October Okanagan Real Estate Sales

Real Estate Report, October 2018

 

KELOWNA,B.C.– November 1, 2018.

Residential sales posted to the Multiple Listing Service (MLS®) for the Peachland to Revelstoke region rose to 639 in October, 9% over September, but 13% fewer than this time last year reports the Okanagan Mainline Real Estate Board (OMREB).

“Interestingly, more homes sold in less time than September but average price was 5% less than September and 4% less than this time last year,” comments OMREB President Marv Beer, cautioning not 

to take too much stock in the price drop just yet, as the mix of properties sold in the month may be a factor. 

New listings continued to climb along with the inventory of available housing, with 14% more listings than this time last year contributing to an inventory of homes that is now 33% higher than October of 2017. 

The average number of days it took to sell a home dipped slightly to 81 from September’s 90 days and last October’s 83 days. 

 

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